Bangkok Bank supports the BOT’s measures to help SMEs both in terms of liquidity loans and suspension of principal and interest payments to reduce the effects of the COVID-19 outbreak
April 08, 2020
Bangkok Bank Senior Executive Vice President Suvarn Thansathit said that Bangkok Bank is ready to take care of SME customers, a sector that plays an important role in the Thai economy and is the country's main source of employment. In line with this commitment, the Bank supports the BOT’s additional measures in order to provide SME customers with sufficient funds and liquidity to operate their businesses and to keep their employees.
The assistance consists of two measures which are:
1. For entrepreneurs (both individual and juristic persons operating business in Thailand with credit limits of up to 100 million baht, the loans can be automatically suspended for six months without any effects on their credit history. The aim of this isto help provide the necessary liquidity to support their expenditure. Meanwhile, for entrepreneurs with financial capability, the Bank recommends paying off their loans as normal to play a part in helping to drive the country’s economy.
2. The Bank is ready to offer soft loans to provide customers with financial liquidity. Entrepreneurs (both individual and juristic persons) operating business in Thailand with credit limits of up to 500 million baht, will be entitled to an interest rate of 2% per annum for the first two years with no interest charged during the first six months. However, customers must have a normal installment status and to have been no more than 90 days past due (not yet NPL) as of December 31, 2019. Each customer will be able to borrow no more than 20% of the outstanding balance of accounts receivable as of the end of December 2019.
“During the implementation of these two measures, the Bank is ready to give advice to customers in terms of debt restructuring and the adjustment of repayment plans to suit the business type. The Bank understands the difficult circumstances entrepreneurs are facing so we aim to help borrowers before their debt becomes an NPL which will affect their credit history and compromise their future loan applications. Meanwhile, for customers with ongoing financial capability, we recommend paying off their loans as normal to be a part in helping to drive the country’s economy,” said Mr. Suvarn.
Customers can receive more information about these special loans at our Business Centers or contact any of Bangkok Bank channels comprising https://www.bangkokbank.com/SMEs, Bangkok Bank LINE Official, Bualuang Phone 1333 or 0 2645 5555.
The assistance consists of two measures which are:
1. For entrepreneurs (both individual and juristic persons operating business in Thailand with credit limits of up to 100 million baht, the loans can be automatically suspended for six months without any effects on their credit history. The aim of this isto help provide the necessary liquidity to support their expenditure. Meanwhile, for entrepreneurs with financial capability, the Bank recommends paying off their loans as normal to play a part in helping to drive the country’s economy.
2. The Bank is ready to offer soft loans to provide customers with financial liquidity. Entrepreneurs (both individual and juristic persons) operating business in Thailand with credit limits of up to 500 million baht, will be entitled to an interest rate of 2% per annum for the first two years with no interest charged during the first six months. However, customers must have a normal installment status and to have been no more than 90 days past due (not yet NPL) as of December 31, 2019. Each customer will be able to borrow no more than 20% of the outstanding balance of accounts receivable as of the end of December 2019.
“During the implementation of these two measures, the Bank is ready to give advice to customers in terms of debt restructuring and the adjustment of repayment plans to suit the business type. The Bank understands the difficult circumstances entrepreneurs are facing so we aim to help borrowers before their debt becomes an NPL which will affect their credit history and compromise their future loan applications. Meanwhile, for customers with ongoing financial capability, we recommend paying off their loans as normal to be a part in helping to drive the country’s economy,” said Mr. Suvarn.
Customers can receive more information about these special loans at our Business Centers or contact any of Bangkok Bank channels comprising https://www.bangkokbank.com/SMEs, Bangkok Bank LINE Official, Bualuang Phone 1333 or 0 2645 5555.
